News Pulse for December 7, 2017

A daily download of SME, startup, fintech and tax news from around Australia.

Intuit takes over TSheets

QuickBooks is sure to benefit from deeper integration with the time-tracking app, but what does it mean for other accounting systems?

Intuit, the company behind the QuickBooks online accounting system, has agreed to acquire the TSheets time-tracking and scheduling application for $US340 million.

10 worries keeping Australia’s business leaders awake at night

The top concern of Australia’s business leaders is digital disruption, according to a survey by KPMG which ranks the 10 issues keeping corporate Australia awake at night.

Innovation, especially as it relates to the digital environment, is the number one issue exercising the minds of Australia’s business leaders going into 2018.

Name-and-shame website for dodgy employers launches, but does Australia really need one? – SmartCompany

Concerns about underpayments in the hospitality sector have been big news in 2017. From cases involving high-profile celebrity chefs to those in fast food franchises, there’s been no shortage of examples of employees being underpaid their entitlements this year.

But is a union-backed website for naming and shaming employers the best way to ensure workers are paid properly?

Amazon Australia launch: Startups poised to win from growing demand for retail, logistics tech

Unless your home is round and rock-shaped, you’ve probably heard that online retail giant-monolith-destroyer-of-worlds Amazon has finally touched down in Australia, officially launching its local offering yesterday.

And while members of the small business and retail community have been bracing for the company’s arrival for months, many in the startup space are likely looking on with indifference.

Cybercriminals turn to email impersonation as businesses focus on security against malware

With organisation preoccupied with the security challenge posed by malware, cybercriminals are switching impersonation attacks to bypass email security systems, according to research undertaken by Mimecast.

The global email and data security company has released its latest Email Security Risk Assessment (ESRA), which revealed that while most organisations are treating malicious attachments and spam as the main risk to email-related security, there is an increased risk of impersonation attacks as compared to attacks leveraging malware.

Government to help small businesses digitise, go global with revised $18m advisory program

To help small businesses get online and reach new markets through digital platforms, the Federal Government has overhauled its Australian Small Business Advisory Services (ASBASAustralian Small Business Advisory Service www.business.gov.au/asbas) program, Minister for Small Business Michael McCormack has announced.

McCormack said the redesigned program will allocate $18 million in grants over three years to specialist advisers who will engage with interested small businesses throughout Australia to provide relevant training, expert advice and targeted support to grow businesses through digital platforms.

Keeping the cash flowing for small business | The Hon Michael McCormack MP

THE Turnbull Government continues to lead the way for paying small businesses on time with release the Pay On-Time Survey which shows Government agencies paid 96 per cent of their invoices within 30 days, Minister for Small Business Michael McCormack says.

Minister for Small Business Michael McCormack said the results were very positive and a great outcome for the 6,800 small businesses which have contracts with the Australian Government.

Small firms lag in modern job arrangements

New research funds about only half of small and medium-sized firms offer flexible working arrangements compared with almost three-quarters of bigger businesses, which are embracing modern working practices.

The survey of 350 respondents by business software provider MYOB also found two-thirds of micro businesses – up to four employees – offer some form of flexibility.

Innovating to help business work smarter

IF you’re working in a job that didn’t exist a few years ago, there’s a good chance it was created by a small, young business.

It’s Australia’s young business sector that is boosting our economy and jobs today, and creating opportunities for even greater wealth and employment tomorrow.

Let’s Talk… Fintech

The financial services industry is in the midst of a digital revolution led by fintech startups. These nimble, customer-centric companies are rapidly establishing a new status quo as they hone in on the consumer and business pain points the large incumbents have failed to address.

This week, for our exclusive “Let’s talk…” feature looking at competition, we asked more than a dozen industry experts – including the CEOs of FinTech Australia, Prospa, MoneyMe, zipMoney and Tyro –  whether the big financial institutions can survive without fintech.

The new fintech threat

It was easy to mock the World Economic Forum’s airy dismissal of fintech as lacking the punch to change the competitive landscape — the Geneva-based body is hardly a hotbed of innovation, and nor is it meant to be.

However, there was a sting in the tail of the forum’s assessment.

Tips, comments or suggestions? Let me know in the comments, send me an email or tweet me @simeonduncan.

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